The Bitchuation Room with Francesca Fiorentini
@franifio·283K subscribers·2.7K videos
Goodbye Cheddar Bay Biscuits? Why Red Lobster Died
Posted
June 3, 2024
Views
2,628
Likes
253
Comments
78
June 3, 2024
2,628
253
78
12.60%
Every word spoken in this episode is indexed. Type any phrase to jump straight to the moment it was said.
Type any word or phrase that may have been spoken. Click a result to seek the player to that exact moment.
Try a name, a topic, or a quoted line
See what was published immediately before and after this episode.
14:00Now PlayingGreedy hedge funders want to take away your unlimited breadsticks and endless shrimp. It’s time to fight back!
Red Lobster is going under, after becoming just the latest casualty in private equity’s war on affordable family meals.
As the chain restaurant files for bankruptcy and assets are being sold off as part of its “restructuring,” it's good to take note of how they got there. After 10 years of being tossed from one hedge fund to another, the financial re-ordering of the franchise was crushing Red Lobster and eventually killed it.
For those unfamiliar, private equity firms in essence buy and manage companies in order to earn a profit when they sell them, kind of like those horrible house flipper people but for giant companies, including many of your favorites. They use money from investors (pension funds, wealthy individuals, endowments, etc.) to purchase nursing homes, restaurant chains, hospitals, or retail stores through “leveraged buyouts.”
This may all sound boring but play this game with us: try and look up brands and places you visit regularly and see whether they're PE-owned. Wouldn’t you rather they be worker-owned?
Francesca and Matt Lieb Are In Chicago for the DNC!
Monday 8/19 LIVE Bitchuation Room X Bad Hasbara Podcast. Tickets here
Tuesday 8/20 LIVE Stand UpFrancesca Fiorentini & Matt Lieb CoHeadline. Tickets here
Get 20% off SUNSET LAKE CBD with code FRANTIFA at check out. Explore all their organic, vertically-integrated craft CBD products including tinctures, gummies, smokables, salves and more: www.sunsetlakecbd.com
***************************
Independent creators rely on your support to create the content you want!
Join this channel to get access to perks:
Become a Patron of The Bitchuation Room:
Tip the show:
Venmo: @TBR-LIVE
Cash-App: @TBRLIVE
Get your TBR merch: www.bitchuationroom.com
***************************
Thanks to Paige Omek & Max Inhoff
***************************
Follow The Bitchuation Room on Twitter @BitchuationPod
Check Out The Bitchuation Room Podcast
Google Music
Find Francesca On:
YouTubeThe Bitchuation Room’s channel
Sentinel Indexing in Progress
Metadata and chapters are available. Claim extraction for this episode is pending.
All video content is delivered via YouTube embedded players in accordance with the YouTube Terms of Service. Sentinel provides research tools that promote discovery and accountability across political media.
